If it is CBN then it is not diamond. CBN ic Cubic-Boron-Nitride and is an extremely hard abrasive used in place of diamonds because of the way it binds to steel. So if it is a CBN wheel then it is toast.If thats a diamond wheel, no. Its toast.
If its a rock wheel then you can spend some time and dress it. Just wear a dust mask...
that would work if I remembered where I got it